As of Thursday close, Sunnova Energy International Inc.’s (NYSE:NOVA) stock was down -$0.76, moving down -5.33 percent to $13.50. The average number of shares traded per day over the past five days has been 5,306,500 shares. 2 times new highs have been achieved over the past 5 days, with a -$2.22 fall in that time frame. In the last twenty days, the average volume was 5,120,235, while in the previous 50 days, it was 4,045,886.
Since last month, NOVA stock retreated -41.96%. Shares of the company fell to $13.50 on 08/17/23, the lowest level in the past month. A 52-week high of $29.13 was reached on 07/18/23 after having rallying from a 52-week low of $12.46. Since the beginning of this year, NOVA’s stock price has dropped by -25.04% or -$4.51, and marked a new high 8 times. However, the stock has declined by -53.66% since its 52-week high.
NOVA stock investors should be aware that Sunnova Energy International Inc. (NOVA) stock had its last reported insider trading activity 17 days ago on Aug 01. Berger William J, the of the company, disposed of 47,150 shares for $17.86 on Aug 01. It resulted in a $841,991 divestment by the insider. Mohamed Akbar added 10,000 shares at an average price of $14.37 on May 19. The insider now owns 83,689 shares following the transaction. On Mar 31, Berger William J bought 600 shares at $15.58 apiece. The transaction was valued at $9,348.
Valuation Metrics
The stock’s beta is 2.07. Besides these, the trailing price-to-sales (P/S) ratio of 2.36, the price-to-book (PB) ratio of 1.13.
Financial Health
In the three months ended June 29, Sunnova Energy International Inc.’s quick ratio stood at 1.00, while its current ratio was 1.30, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 4.41, and the total debt-to-equity ratio was 4.58. On the profitability front, the trailing twelve-month gross margin is 40.10% percent. In the year ended June 29, EBITDA margin amounted to 7.39%, whereas operating margins totaled -22.70%. Based on annual data, NOVA earned $230.61 million in gross profit and brought in $557.69 million in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was -1.30%. Return on equity (ROE) for the past 12 months was -19.90%.
In Sunnova Energy International Inc.’s quarter-end financial report for June 29, it reported total debt of $6.12 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. NOVA’s revenue rose 11.64% to $161.7 million during the quarter, while net income inched up to $166.38 million. While analysts expected Sunnova Energy International Inc. to report -$0.42 quarterly earnings, the actual figure was -$0.74 per share, beating the consensus estimate by -76.20%. During the quarter, the company generated -$7.5 million in EBITDA. The liabilities of Sunnova Energy International Inc. were 7.72 billion at the end of its most recent quarter ended June 29, and its total debt was $6.39 billion. The value of shareholders’ equity is $116.4 million.
Technical Picture
This quick technical analysis looks at Sunnova Energy International Inc.’s (NOVA) price momentum. With a historical volatility rate of 66.47%, the RSI 9-day stood at 23.14% on 17 August.
With respect to its five-day moving average, the current Sunnova Energy International Inc. price is down by -14.12% percent or -$2.22. At present, NOVA shares trade -40.21% below its 20-day simple moving average and +2.51% percent above its 100-day simple moving average. However, the stock is currently trading approximately -23.77% below its SMA50 and -23.56% below its SMA200.
Stochastic coefficient K was 9.01% and Stochastic coefficient D was 10.06%, while ATR was 1.10. Given the Stochastic reading of 0.00% for the 14-day period, the RSI (14) reading has been calculated as 28.74%. As of today, the MACD Oscillator reading stands at -1.08, while the 14-day reading stands at -1.61.
Analyst Ratings
Sunnova Energy International Inc. downgraded its rating on Sunnova Energy International Inc. (NYSE: NOVA) to a Market perform in a note to investors on July 21, 2023. The analysts firm previously had an Outperform rating on the stock.Sunnova Energy International Inc. (NOVA) has been rated Overweight by analysts. According to 0 brokerage firms, NOVA is a sell, and 5 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 3 analysts rate Sunnova Energy International Inc. stock as buy, with 18 recommending it as overweight.
With a median target price of $29.50, the current consensus forecast for the stock is $18.00 – $58.00. Based on these forecasts, analysts predict Sunnova Energy International Inc. (NOVA) will achieve an average price target of $30.75.
